Elizabeth Grammer Sells 5,995 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Elizabeth Grammer sold 5,995 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $5.54, for a total value of $33,212.30. Following the completion of the sale, the insider directly owned 299,895 shares of the company’s stock, valued at $1,661,418.30. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Ardelyx Stock Performance

ARDX stock traded up $0.22 on Tuesday, reaching $5.72. 2,836,088 shares of the company were exchanged, compared to its average volume of 4,398,747. Ardelyx, Inc. has a 12 month low of $3.21 and a 12 month high of $6.78. The stock’s fifty day moving average price is $5.54 and its 200 day moving average price is $4.98. The firm has a market capitalization of $1.39 billion, a PE ratio of -24.87 and a beta of 0.66. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.30 and a quick ratio of 4.03.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.06. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The company had revenue of $110.33 million for the quarter, compared to analyst estimates of $100.44 million. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, research analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ARDX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Ardelyx in a research report on Friday, October 31st. Wedbush cut shares of Ardelyx from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Citigroup lifted their price objective on Ardelyx from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.73.

Institutional Trading of Ardelyx

Several hedge funds have recently bought and sold shares of the stock. DCF Advisers LLC bought a new stake in shares of Ardelyx during the second quarter worth $39,000. Brighton Jones LLC bought a new stake in Ardelyx in the 2nd quarter valued at $40,000. Focus Partners Advisor Solutions LLC acquired a new position in Ardelyx in the 1st quarter worth $56,000. SBI Securities Co. Ltd. increased its holdings in Ardelyx by 147.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 6,102 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Ardelyx in the 2nd quarter valued at about $61,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Ardelyx Company Profile

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.